Welcome to our dedicated page for Pyxis Oncology news (Ticker: PYXS), a resource for investors and traders seeking the latest updates and insights on Pyxis Oncology stock.
Pyxis Oncology, Inc. develops clinical-stage cancer therapeutics, with news centered on micvotabart pelidotin, or MICVO, an investigational antibody-drug conjugate targeting extradomain-B fibronectin in the tumor extracellular matrix. Company updates focus on MICVO in solid tumors, including recurrent or metastatic head and neck squamous cell carcinoma, and on monotherapy and pembrolizumab combination development.
Recurring developments include clinical and preclinical data presentations, translational research on MICVO’s mechanism of action, quarterly and annual financial results, corporate presentations, leadership changes, business development appointments, and capital actions tied to funding the company’s oncology pipeline.
On December 23, 2022, Pyxis Oncology (Nasdaq: PYXS) announced that its Compensation Committee granted a total of 52,560 restricted stock units and 65,701 stock options to five new employees under the 2022 Inducement Plan. These awards are part of the company’s strategy to attract talent as it develops next-generation therapeutics for tough cancers. The stock options, with an exercise price of $1.28, vest over four years, with a quarter vesting after the first year. This move aligns with Nasdaq regulations.
Pyxis Oncology has announced that the FDA granted IND clearances for its two product candidates: PYX-201, an antibody-drug conjugate, and PYX-106, an immunotherapy. Both candidates will enter Phase 1 clinical trials to assess their safety and anti-tumor activities against select solid tumors, such as breast and lung cancers. This marks a significant milestone for the company, as it extends its cash runway into 2025, enabling further clinical development of therapies aimed at addressing unmet medical needs in oncology.
Pyxis Oncology expands its licensing agreement with Pfizer, gaining exclusive rights to its antibody-drug conjugate (ADC) technology platform. This includes the ability to sublicense components to third parties, with a successful initial agreement already in place. The company is on track for IND applications for PYX-106 and PYX-201 by year-end. Financially, as of September 30, 2022, Pyxis has $200 million in cash, supporting operations into 2024. However, Q3 2022 reported a net loss of $27.7 million, reflecting rising R&D and administrative expenses.
On September 30, 2022, Pyxis Oncology (Nasdaq: PYXS) announced the grant of restricted stock units for 213,030 shares and stock options for 266,290 shares to 17 newly hired employees under its 2022 Inducement Plan. These awards are part of a strategy to attract talent and are in compliance with Nasdaq Listing Rule 5635(c)(4). The stock options have a ten-year term with an exercise price of $1.97. The vesting schedule includes 25% vesting on the first anniversary, with the balance vesting monthly over the following three years, contingent on continued employment.
Pyxis Oncology (PYXS) reported a Q2 net loss of $25.6 million, or $(0.79) per share, compared to $(5.54) per share a year prior. As of August 15, 2022, the company had a cash balance of $207 million, providing runway through H2 2024. Key highlights include a focus on advancing two lead programs: PYX-201, an ADC, and PYX-106, an mAb, with IND filings expected in 2022. PYXS has paused two programs (PYX-203 and PYX-102) and ceased development of PYX-202. The company appointed Dr. Rachel Humphrey to its Board, enhancing its expertise in oncology drug development.
On July 1, 2022, Pyxis Oncology (Nasdaq: PYXS) announced the granting of restricted stock units totaling 61,360 shares and stock options for 76,701 shares to four new employees. This grant falls under the 2022 Inducement Plan and complies with Nasdaq rules. The stock options feature an exercise price of $2.44, corresponding to the closing share price on the grant date. Vesting occurs over four years, with 25% vesting after one year, and the remaining shares vest monthly thereafter. This initiative aims to bolster the company’s talent and support its development of therapeutics for hard-to-treat cancers.
Pyxis Oncology, Inc. (Nasdaq: PYXS), focused on next-generation cancer therapeutics, will present at the H.C. Wainwright Preclinical Cancer Drug Discovery conference. The presentation, featuring Lara Sullivan, M.D., and Jay Feingold, M.D., Ph.D., will be available on-demand starting at 9:00 a.m. ET on June 29, 2022. A webcast will also be accessible on the Pyxis Oncology investor relations site and will be archived for 90 days.
Founded in 2019, Pyxis develops antibody drug conjugates and monoclonal antibodies to tackle challenging cancers.
Pyxis Oncology (Nasdaq: PYXS) announced that CEO Lara Sullivan and the management team will present at two upcoming investor conferences.
- H.C. Wainwright Global Investment Conference: May 24, 2022, at 7:00 a.m. ET; format includes pre-recorded presentation and virtual meetings.
- Jefferies Healthcare Conference: June 8, 2022, at 2:00 p.m. ET; format includes live presentation and 1:1 meetings in New York.
Webcasts of the presentations will be available on the company's investor relations site and can be replayed for 90 days.
Pyxis Oncology (Nasdaq: PYXS) reported its Q1 2022 financial results on May 13, 2022, ending the quarter with approximately $247 million in cash. The company anticipates filing INDs for several drug candidates in H2 2022 and H2 2023. R&D expenses decreased to $20.1 million from $32.8 million in Q1 2021, while G&A expenses rose to $11.3 million due to increased personnel costs. The net loss was $31.4 million or $0.97 per share, an improvement compared to the $36.8 million loss in the same period last year.
Pyxis Oncology (Nasdaq: PYXS) will have its President and CEO, Lara Sullivan, participate in a fireside chat at the BofA Securities 2022 Healthcare Conference on May 11, 2022, at 2:40 p.m. PT in Las Vegas, Nevada. The event will be available via webcast on the Investors section of the Pyxis Oncology website. A replay will be archived for 90 days. Pyxis Oncology is dedicated to developing next-generation therapeutics targeting challenging cancers, with a focus on antibody drug conjugates and monoclonal antibodies to enhance treatment efficacy.